Youth Financial Literacy is the key to lifelong financial success

- Over 30,000 Canadian students to participate in Junior Achievement's financial literacy programs during Financial Literacy Month -

TORONTO, Nov. 1, 2013 /CNW/ - With an increasing focus on the importance of developing money management skills and habits, Junior Achievement of Canada is pleased to celebrate Financial Literacy Month with the delivery of over 1,200 financial literacy programs in November. As the largest youth financial literacy educator in the country, Junior Achievement understands that by helping students build financial knowledge at a young age, children will have the skills and habits to make the best financial choices throughout their lives.

It is essential for today's young people to know when to spend, when to save, how to effectively manage a budget, how to choose the right financial products and how to prepare for life changes. By providing basic financial concepts at an early age, parents can help them prepare to make sound financial decisions.

"There is no doubt that early behaviour and skill development are essential in ensuring lifelong financial success," said Keith Publicover, President and CEO, Junior Achievement of Canada. "From opening a bank account, to letting a child plan the weekly grocery trip, parents can teach their children healthy money management habits."

Each day in classrooms across the country, Junior Achievement provides students with the understanding of basic financial concepts. Through the delivery of Junior Achievement programs, volunteers help students develop the the ability and discipline to make wise personal and financial decisions.

"In order to be successful, young Canadians must learn about the various financial tools, techniques and services available to them," said Publicover. "Throughout the month of November, over 1,700 Junior Achievement volunteers from the business community will deliver over 1,200 programs reaching over 30,000 students from coast to coast. With the delivery of these programs, volunteers will help students put financial literacy concepts into practice, so that they can connect basic economics to their daily lives."

Junior Achievement is the largest youth business education organization in Canada and plays an important role in developing Canada's future leaders by providing them with the knowledge and confidence needed to define personal success, gain financial responsibility and enhance their workforce readiness. Last year alone, more than 243,000 young Canadians experienced a Junior Achievement program from over 14,500 committed business volunteers. Junior Achievement programs, including Dollars with Sense, Economics for Success and the Company Program are delivered by volunteers to bring the business world experience into the learning environment. As part of the commitment to provide financial literacy education tools to parents, educators and students, Junior Achievement, with generous support from TD Bank Group, has launched a new online Resource Portal. Additional tools, videos and educational materials are available at resources.jacan.org.

There is no doubt that early behaviour and skill development are essential in ensuring lifelong financial success. An analysis conducted by the Boston Consulting Group showed that Junior Achievement programs make a significant impact on the financial literacy of students. Over 75% of Junior Achievement past participants believe the organization's programs had a significant impact in developing their financial literacy skills. Achievers save more, borrow less, and do better financially than the average Canadian.

SOURCE: Junior Achievement of Canada